|
|
GROSS DOMESTIC PRODUCT, WELFARE: Gross domestic product (GDP) is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. GDP is intended to measure the nation's production of wants-and-needs satisfying goods and services. While it provides an indication of how far the economy has come on the long road to battling the ever-present scarcity problem, it is NOT a direct measure of the nation's welfare or well-being. GDP is certainly a big component of the well-being of the country, but not the ONLY component.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 18: Banking | Unit 1: What It Is
|
Page: 1 of 24
|
|
The primary profit-motivating task of a bank is to match up borrowers and savers. Two main functions: - First: Banks maintain deposits for costumers.
- Second: Banks offer loans to credit-worthy customers.
Banks and the money supply: - Banks are financial intermediaries.
- Banks must remain stable because their deposits are part of the economy's money supply.
- Closing down a bank would be detrimental to the money supply.
Regulation: - Banks are heavily regulated by government.
|
|
|
|
|
|
|
UNCERTAINTY The observation and recognition that information, especially information about the future, is not known. While any number of events might occur in the future, uncertainty exists because which specific events will occur is unknown. A related concept is risk, which is assigning probabilities to potential future outcomes. Uncertainty is a central component in the economic study of information.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for vindictive digital clocks with revenge on their minds.
Your Complete Scope
This isn't me! What am I?
|
|
|
A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
|
|
|
"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
|
|
WLS
Weighted Least Squares
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
